Discuss about the Factors Influencing Business Research Report Proposal.
The progressions of information and communication technology, particularly the growing use of internet in every business transaction have had a profound impact on the evolution of banking industry. The particular factor has become a global phenomenon in the creation of a truly global marketplace. Such scenario is significantly contributed by the penetration of internet banking in the developed economies of Western countries than that into the less developed nations in the world (Lee, Lee and Kim 2015). From the research conducted by Kesharwani and Singh Bisht (2012), it can be stated that poor economic conditions and lack of education and infrastructure in addition to the trust issues are the obvious factors playing the slowdown in the adoption of internet technology for the banking industry as part of their operations in the developing countries. The spatial and temporal separation between e-commerce and traditional commerce, as well as the significant unpredictability of the internet infrastructure, create an implicit uncertainty over the acceptance of online services (Bhatti 2015). Therefore, the research is developed with the aim of exploring and determining the variety of factors that are likely to be involved in the acceptance of internet technology during the banking transactions conducted in the context of Middle East.
Fundamental Concepts of Internet Banking
The construction of electronic banking is a highly complicated phenomenon consisting of several distribution channels and making it a bigger platform in the era dominated by the technology (Nasri and Charfeddine 2012). The term electronic banking can be defined in multiple ways, where it is commonly known as the banking process performed through the internet. Safeena and Date (2015) have argued internet or electronic banking as the simple form of providing provision of information and banking services to the customers by the banking organizations through television, telephone, computers, and mobile phone. Similarly, Hanafizadeh, Keatin, and Khedmatgozar (2014) have significantly pointed out that internet banking refers to the electronic connection between banks and their customers for creating, managing, and controlling financial transactions. With the help of these reflections, it can be reported that the emergence of internet banking allows the customers to perform financial transactions in addition to checking or accessing their bank accounts promptly.
Adoption of Internet Banking
Adoption simply refers to as the process of accepting the changes associated with a product, service, or idea and continuing the utilisation. In this particular context, Montazemi and Qahri-Saremi (2015), consumers belonging to the banking industry tend to go through a process of knowledge, arguments, decision-making, and corroboration during adopting an individual product and service. From the principal application of the study, the mentioned factors are the responsible for significantly influencing the technologic acceptation and adoption throughout a specific community. Additionally, Raza and Hanif (2013) define innovation adoption process supports the individuals or a decision-making units to accept or reject a new idea for determining the implementation and confirmation in the subsequent phases. The study also suggests that the approval or rejection depends on the knowledge of the individuals or the units regarding the innovative concept helping it shape up their pertinent attitudes. Hence, knowledge and perception can be categorised as the significant factors influencing the adoption of e-banking within the chosen region or geography.
The continued rise of the raw power of internet technology has improved the overall transactional approaches while ensuring the sophisticated applications to become economically feasible (Suki 2015). In this case, the willingness of people to accept expanding power depends on harnessing the pivotal factors associated with the aspect while reducing technical barriers. Martins, Oliveira, and Popovi? (2014) have signified the essence of gathering useful understanding by the professionals and practitioners regarding the resistance from the population in using technologies. Such process helps them to adopt practical methods for evaluating technologies, predicting the responses generated by the users, and improving user acceptance for altering the nature of technologies.
Research Questions and Hypotheses
This research is aimed to investigate the information, which is not adequately expressed by the previous study concerning the growth of internet banking from the context of Middle East. The entire research deals with the growing intention of the population towards the use of internet banking services and facilities. With compliance to the key focus of the study, the following research questions will be explored:
- What are the factors influencing the adoption of internet banking services and facilities among the customers of Middle East region?
- What are the specific roles of social factors like trust in the acceptance of internet banking by the customers of Middle East?
H1: Attitude has the favourable impact on the intention of people to use internet banking
H2: Perceived control over the behaviour has a beneficial impact on the adoption of internet banking
H3: Trust plays a confident driver on the perceived behaviour of the population regarding the utilisation of internet banking
Research Methodologies: Data Collection and Analysis
Research Approaches and Methods
According to Yoon and Steege (2013), research can be categorised into three different divisions depending on the nature and purpose of overall study and perceived problem, such as exploratory, explanatory, and descriptive. In case of this research, exploratory nature of research will be chosen for investigating the key areas and addressing the identified questions (Martins, Oliveira and Popovi? 2014). Based on the definition provided by Safeena and Date (2015), exploratory research is committed to developing a clear understanding regarding the chosen phenomenon or identified problem statement of a subject. It is also acknowledged that the appropriateness of exploratory study is based on the situation when the preliminary knowledge is absent regarding the problem statement. Therefore, the exploratory study deals with a valuable mean for finding out the key events and circumstances associated with the chosen scenario while gaining new insights by asking questions and assessing the phenomena (Yu 2012).
Complying with the nature of exploratory study, the approaches and techniques of this study are designed in such a manner that can gain critical insight and understanding related to factors influencing adoption and approval of internet banking within the chosen region. However, the study is not driven to draw a superior conclusion of the selected topic. The fundamental validity behind the selection of such research approach is based on its increasing benefits related to flexibility and ability to adapt to the changing situations (Montazemi and Qahri-Saremi 2015). On the other hand, the research technique will chiefly rely on the adequate selection of literature, as information obtained from reviewing the scholarly work will provide a useful foundation to the definition of research questions through constructing the theoretical framework.
Data Collection and Analysis
Survey questionnaire will be used for collecting data with the intention of identifying factors influencing the adoption internet banking from the mindset of customers. In order to approach with the questionnaire and collect useful feedbacks from the population, a random sampling technique will be employed. Based on the application of such sampling techniques, both kinds of customers using internet banking or traditional banking can be engaged in the data collection process thereby ensuring the maintenance of uniformity to the overall process (Raza and Hanif 2013). In case of the questionnaires, the contained questions are entirely formed by extracting the key reflections from the identified literature. These questions are distributed in two sections, where the first segment will deal with the general information of the respondents, and subsequent portion will be committed to ascertain the perception of the participants regarding the acceptability and utilisation of internet banking. Moreover, the questionnaire will be formed in the close-ended basis by using the five-point likert scale.
Lastly, the collected data are expected to be analysed by using statistical tools while tables, graphs, and charts will be utilised for presenting the findings and supporting the analysis (Hanafizadeh, Keating and Khedmatgozar 2014). The overall process is designed to ensure a comprehensive and systematic review for reaching the desired outcomes.
Raza and Hanif (2013) signify that qualitative and quantitative are the two primary approaches in which the entire research process can be categorised. These two processes are the mostly used methods in the study of social science. Quantitative research deals with the involvement of numerical representation of data and interpretation of facts noted through the observation with the aim of describing the explaining the phenomena. In contrary, the qualitative research approach is based on involving the non-numerical explanation and interpretation dealing with the exploration of underlying facts and principles related to the patterns of relationships (Kesharwani and Singh Bisht 2012). Based on the nature of the research, all the approaches and process will be carried out by following the quantitative research, which is useful for providing detailed planning through the various measuring tools and techniques prior to the collection and analysis of data.
The expected outcomes of the entire study are based on obtaining theoretical and practical implications from the results achieved from the identified set of data collections tools and relative approaches. It is also anticipated that the result of findings will reflect the key areas that require critical attention from the banking institutions thereby leading to the formation of functional recommendations.
It is estimated preliminarily that the banking organizations in Middle East region must need to demonstrate their apparent approaches towards both technological and trust-based issues for enhancing the behavioural intention among the customers. Such approach will be crucial for aiding them inclining towards the use of internet banking. Apart from that, it can be foreseen that some other underlying antecedents determining the behaviours of the customers from individual community will be elaborated through the concluding chapter of the study for enriching the overall understanding.
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